Bucharest Office Market Snapshot in the Second Quarter of 2021

• in Bucharest, was rented a total area of 80,400sqm of modern office spaces
• the most active tenants were companies in the Medical & Pharma sector, with 25% of the net take-up

Download the ESOP study Office Market Snapshop in Q2 2021

Overview

In the second quarter of 2021, one office building, Tiriac Tower, with a total leasable area of 16,500sqm, was completed in Bucharest, while two other projects are also very close to completion: Globalworth Square and Politehnica Business Tower.

Occupier focus

In Q2 2021, in Bucharest, was rented a total area of 80,400sqm of modern office spaces, out of which 40% was represented by the renewal of lease contracts in the current premises and 60% net take-up (newly contracted offices and expansions in the existing ones).

The most sought-after area was the Central-North one, with 57% of the companies’ preferences for renting new spaces.

The most active tenants were companies in the Medical & Pharma and Professional Services sectors, with 25% and 24% of the net take-up, respectively.

Main Transactions in Q2 2021

Main Projects with delivery in 2021

Area	Project Name	Delivery	Surface (sqm)	Location
CENTRAL-WEST	Campus 6.2	S1 2021	20,600	Grozavesti
	ONE Cotroceni Park – Phase 1	S2 2021	46,000	Cotroceni
	Sema Parc – Oslo Building	S2 2021	21,300	Splaiul Independentei
	Sema Parc – London Building	S2 2021	10,200	Splaiul Independentei
CENTRAL-NORTH	Tiriac Tower	S1 2021	16,500	Victoriei Square
	J8 Office Park – Buildings A and B	S2 2021	46,000	Presei Square
	Globalworth Square	S2 2021	30,800	Barbu Vacarescu
CENTRAL-SOUTH	U-Center – Building A	S2 2021	32,800	Tineretului

Outlook

By the end of 2021, over 290,000 sqm of modern office space is forecasted to be completed.

The map shows the rent levels by class in the main business areas. During the year, some adjustments might take place.

ESOP Partners In Time

ESOP’s portfolio includes, in addition to office buildings for rent in Bucharest, office spaces for sale in Bucharest, industrial parks and warehouses for rent, as well as office spaces for rent in the main cities of the country.

If you would like more information, please contact the ESOP team by filling this brief form, or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!